The Basics of Franchise Accounting

Strategy Driven

Owning a franchise is an easy and affordable way of starting a new business. As a franchise owner, a lot of the heavy lifting involved in starting a business is already done for you. Many aspects of a franchise business will be managed centrally. How do Franchises Work?

Building Residual Income By Franchising Your Business

Strategy Driven

Franchising is a the ultimate definition of scale where a business owner removes themselves completely from operational responsibilities in order to become a coach to others who wish to enter the world of entrepreneurship.

How to Decide if a Franchise is Right for You

Strategy Driven

This is where franchises come in. The main advantage of a franchise is that you don’t need to establish your business in a competitive marketplace. With a franchise, you have that brand awareness in place already, and the marketing burden is largely taken off your shoulders.

Start-ups, Franchises, Venture Capitalists Oh My!

Women on Business

Create a street/dream team to create buzz for your product or service before the launch. Top 100 Franchises. AllBusiness AllStar Franchise released winners for the fourth annual “best of the best” franchises of 2012. Here is a partial list of some of the top franchises.

Leading Views: Humility is the X-factor in Great Leaders

Leading Blog

Miyamoto has helped create some of the greatest and most enduring franchises of all time, including Super Mario Brothers , Donkey Kong , The Legend of Zelda , and the Wii series of games. I think it takes someone special to encourage people not to use their products at every opportunity.

Using Experiments to Launch New Products

Harvard Business Review

One simple and often overlooked way for larger companies to experiment is to randomize the introduction of new products across a set of markets. And Uber is not alone among these companies in turning to market-level experiments to test new products and innovations.

Excellence

Six Disciplines

This is the type of excellence that wins product reviews and is featured in advertisements and promotional material. We can learn much about achieving excellence—not only for our customers, but for ourselves—by taking a lesson from franchises. The franchising concept has been wildly successful over the past 40 years. The appeal of a franchise is rooted in two promises. Excellence, like beauty, is in the eye of the beholder.

How Customers Come to Think of a Product as an Extension of Themselves

Harvard Business Review

That’s when consumers feel so invested in a product that it becomes an extension of themselves. Companies that encourage psychological ownership can entice customers to buy more products, at higher prices, and even to willingly promote those products among their friends.

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Leadership, Passion, And Transformation

Joseph Lalonde

Whether you’re advocating for workers as a union representative or providing pastoral leadership in cutting-edge ways, or seeking to own several franchises, your signature passion is required to heal, inspire, direct and deepen the quality of our lives.

5 Funny Teamwork Videos to Get Your Team Talking. You Have to See #3 to Believe it.

Lead by Adventure

Igniter Media does high quality work, and I’ve used their products before when I worked as a pastor. This next clip features those lovable minions from the Despicable Me franchise. Videos are great illustration tools.

The Ten Commandments of Business Success

Women on Business

She was long dead when I first discovered Martha Matilda Harper and her amazing feat of launching modern franchising even though she had been a servant for nearly a quarter of a century. History buried its memory of the 500+ franchises she sprouted and staffed with other poor women. For Harper, it was deciding to franchise her business as a practical way to expand, when she could not get working capital, plus be assured of an ownership base that would strictly follow her dictates.

Burn the Business Plan

Leading Blog

Another reason success as an entrepreneur favors age is that “creating a new product or service is an organic process, one that is shaped by background, experience, and acuity of the innovator.” “The

How to Brand a Next-Generation Product - SPONSOR CONTENT FROM HBS EXECUTIVE EDUCATION

Harvard Business Review

Like Apple, most consumer-centric companies deal with the dilemma of how to brand the next- generation of an existing product. Product upgrades make up the majority of corporate research and development activity. Marketing Innovation Product development Analytics Sponsor Content

What Connects Coca-Cola, Lego, In-N-Out, Intuit, and Nike? Focus.

In the CEO Afterlife

This can mean expanding product lines, entering new markets and geographies, line extending brands, acquiring new businesses, creating projects, and adding layers of management to manage the self-created complexity. They’ve never franchised.

Debunking Three Common Myths About Leadership from a Galaxy Far, Far Away

Great Leadership By Dan

Guest post by Brenda Corbett : The Star Wars franchise has seen numerous leaders, including great ones of the dreaded Dark Side. Get them all speaking the same vernacular to go onward and upward to productivity and profits.

The 2 Most Undervalued Factors in Social Marketing

In the CEO Afterlife

Some people think that’s enough to build brand franchises. If customers can’t do that, they can’t assign value to your product or service. When I was in brand management, social media did not exist.

Why Customers Leave

Skip Prichard

From this mindset has come the “franchise approach.” It is believed that if we can just control the policies, procedures and customer path, we can have greater predictability in terms of product preference, buying behavior, revenue and, ultimately, profit.

It’s Time for a Paradigm Shift

Lead Change Blog

He uses many examples of sports franchises that always win and some that always lose. We build teamwork with Nerf wars, making products out of random items, and creating 30 second infomercials about them. What do your people need from you?

Here’s a Leadership Hack for 2017: Start finding ways to Invert Control

Great Leadership By Dan

Instead I assign that job to a specific production person. Discrete task assignment creates accountability, which in turn increases motivation and drives harder work, which ultimately maximizes productivity on a film set just like it does with the kids in the kitchen on cleanup duty.

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Know the Job Your Product Was Hired for (with Help from Customer Selfies)

Harvard Business Review

“We focus on organics and cool new macronutrients, and our consumers are into quinoa and kale and bean sprouts,” Alex Blair, who owns four franchises of Freshii, a Toronto-based chain of healthy fast-food outlets, told the New York Times.

Learning from the Innovation Leaders

Great Leadership By Dan

Successful products, services, strategies, and business models now have a shorter shelf-life than ever before in business history, which means that “innovate or die” is not just a cute bumper sticker; it’s a brutal reality of twenty-first century competition.

The Big Picture of Business – Community Relations and Cause Related Marketing Are Business Strategies, Not Sales Promotions: Determining the Right Kind of Tie-In Causes.

Strategy Driven

I recently stopped for lunch at a franchise restaurant. However, peddling sales to some ‘foundation’ that is named after your product and which supports only one cause is not appropriate. I went to their website, where franchise chains allege they want customer comments.

World’s Greatest Leaders Tap Power of Connection

Michael Lee Stallard

Last year the Cubs won the World Series and broke the franchise’s 108-year World Series title drought, the longest in professional sports. Connection is also a superpower for teams and organizations because it boosts employee engagement, strategic alignment, productivity and innovation.

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21 Home-Based Business Ideas & Tips for Starting a Business from Home

Miles Anthony Smith

Set up a Dedicated Workspace If you plan on working from home , you will need dedicated workspace to stay productive. Finally, use some productivity apps and tools to keep you focused on your business and meeting goals.

5 Critical Factors For Building The Right Team

Tanveer Naseer

Planning for the second version of Xbox – a product which needed to reach a larger and broader audience – raised an important question: can a collection of white, male, hard core gamers build an entertainment system for the masses?

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Turnarounds and the Big Play | In the CEO Afterlife

In the CEO Afterlife

The means to that end is quickly slashing sku’s and product lines to reduce inventories. Familiar examples are spending more on advertising, introducing new products or line extensions, expanding distribution. Secondly, he innovated with blockbuster products iMac and iPod.

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Ten Types of Organizational Change

Change Starts Here

Starting Up a New Product or Service. To push decision-making authority closer to the customer, a restaurant chain modified its franchise management structure, redefining roles and responsibilities across its many locations.

Developing the Resilience to Persevere and Excel

Michael Lee Stallard

For example, earlier this season when the Redskins were down 24-0 to Tampa Bay, Cousins rallied the team to the largest comeback in Redskins franchise history. 4 Ways Millennials Can Boost Productivity and Fulfillment at Work. Lessons from Kirk Cousins.

High-Potential Leaders

Coaching Tip

Companies rarely act alone in delivering their product or service. Hipos understand the complex web of participants, from the makers of small parts that go into larger ones to the mom-and-pop shops or FedEx fleet that delivers the product. Source: Ram Charan: The High Potential Leader: How to Grow Fast, Take on New Responsibilities, and Make an Impact (J-B US non-Franchise Leadership). What "High Potential" Means Now.

When a Product Fails, Find a New Direction

Harvard Business Review

Your company has just developed an amazing new product. Having observed management teams for decades as a mutual fund and portfolio manager, I have watched numerous companies vanish after a disastrous launch of a product or service. As a shrewd manager, Baldino leveraged the company's sales force by adding related products to its core franchise. Years of development, energy, and, of course, money have gone into it.

How to Turn Your Team Around in Six Stages

Leading Blog

How do you transform a losing climate into one that fosters collaboration, innovation, and productivity? While many of the examples are from sport franchises—Colts, Eagles, Steelers—and the people they interviewed there, they also include turnaround stories of Domino’s pizza, Spider-Man: Turn off the Dark Broadway show, and the state of Michigan.

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My Best Blogs of 2011

In the CEO Afterlife

My fascination isn’t my productivity; rather, it is the source of the idea. Brand Managers inherit brands and manage existing franchises. I began blogging about leadership, strategy, marketing and life last February. Frankly, I wasn’t sure whether I could maintain the pace of one blog per week. But as the year closes, I realize that I’ve posted 54 blogs.

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Statesman vs. Politician | N2Growth Blog

N2Growth Blog

One might add that at the time of the Founders, America had approximately 2 million people, and many fewer had the franchise than today.

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The Big Picture of Business: The Colonel and Me

Strategy Driven

The second was at what was the fourth KFC franchise to open in the United States. There became too many competitors, too much franchising, too much hype and just as many who exited the industry as quickly as they entered it.

21 Leadership Lessons And Quotes From Tom Cruise’s The Mummy Reboot

Joseph Lalonde

Universal Studios is rebooting multiple monster movie franchises to create a Dark Universe. Or maybe through a miscalculation, a new product is created. A Reel Leadership Article Tom Cruise took over the reigns as the leading character in the new The Mummy movie.

On a Consumer Watershed

Marshall Goldsmith

More and more business customers have quit buying stand-alone products and have started buying integrated solutions. A growing percentage of IBM’s business, for example, now involves customized solutions incorporating non-IBM products and services. While the idea of IBM selling non-IBM products was almost unheard of in the recent past, it is now becoming commonplace-to the benefit of customers and, in the long run, IBM itself.

Social Media Influence | N2Growth Blog

N2Growth Blog

In a perfect world you would build relationships with the largest possible universe of targeted constituents where you can productively engage and contribute.

5 Ways Predictive Analytics Make or Break a CRM System

Strategy Driven

Lang Smith is the founder of Cloud Signalytics – a first-of-its-kind predictive intelligence software platform helping major franchise auto dealerships create highly precise, individualized customer profiles to maximize sales.

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The Problem With Coaching | N2Growth Blog

N2Growth Blog

Any number of franchised coaching offerings can be purchased at affordable prices, numerous affliliations with the hot coaching brand de-jure are available for the asking, or if all else fails coaches can just go it alone as a solo practitioner – the more the merrier right?

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Women and Leadership – A Look From Inside The Boardroom

Tanveer Naseer

Susan has had plenty of experience working in various male-dominated industries – from serving as the VP and acting GM of the NFL franchise Philadelphia Eagles, to being the successful owner of several meat processing plants which had combined annual revenues of $50 million US. I was a good student and studied all the relevant details; in a short time, I knew my own products inside out.

The Big Picture of Business – Tribute to a Great Mentor. Remembering Cactus Pryor.

Strategy Driven

One remote on which I joined Cactus was for the fourth KFC franchise in the United States. Otherwise, it haunts you for the rest of your life and clouds your productivity. One never forgets their first mentor.

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Morning Advantage: Did Disney Hit the Jackpot with Star Wars?

Harvard Business Review

He just sold Lucasfilm, and the rights to the Star Wars franchise, to Disney for $4 billion. Even though the Star Wars franchise continually rakes in revenue from DVD sales, video games, and TV rights, she says the success of the deal rests on one risky proposition: Disney, sans Lucas, must re-spark the imagination of fans when it releases a new trilogy. The success of an NFL franchise in London is less an economic question than a cultural one.

Microsoft's Kinect and the Invisible Handshake

Harvard Business Review

If and when the technology succeeded, that company stood to reap the rewards through the differentiation in its products, and often also by licensing the new intellectual property. In Kinect, then, we see a major investment by Microsoft aimed at improving the marketability of its Xbox franchise combining with the imagination of a network of innovators. In the co-dependent and highly productive interaction of Microsoft and outside developers there is an invisible handshake going on.